{"id":72004,"date":"2023-06-28T12:53:38","date_gmt":"2023-06-28T16:53:38","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004"},"modified":"2023-06-28T12:53:38","modified_gmt":"2023-06-28T16:53:38","slug":"economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004","title":{"rendered":"Economists mock ‘Bidenomics’ push from White House: ‘they spend like drunken sailors’"},"content":{"rendered":"
\n

President Biden is set to deliver a speech Wednesday in Chicago on “Bidenomics” \u2014 a term economist critics equated to excessive spending and inflation.<\/p>\n

“Bidenomics has been defined by 40-year-high inflation, record drops in labor productivity, anemic economic growth, growing credit card debt, rising interest rates, insipid labor force participation, onerous regulation, falling real incomes, and runaway government spending, borrowing, and printing of money,” EJ Antoni, a research fellow for the Heritage Foundation\u2019s Grover M. Hermann Center for the Federal Budget, told Fox News Digital. “Distilled down to a single word, Bidenomics means \u2018failure.\u2019”<\/p>\n

WHITE HOUSE RIDICULED FOR DEFENDING BIDEN’S ECONOMIC RECORD AS ‘INCREDIBLY POPULAR:’ ‘WITH WHO?’<\/strong><\/a><\/p>\n

Biden<\/a>\u2019s speech comes amid a week of travel from Maryland, to Illinois, to New York, for a series of speeches and campaign receptions. His economic message Wednesday is expected to set the tone for his reelection campaign. A White House memo this week touted Biden\u2019s economic agenda and accomplishments, which includes job growth, low unemployment, and a historic infrastructure plan.<\/p>\n

“Bidenomics is rooted in the simple idea that we need to grow the economy from the middle out and the bottom up\u2014not the top down,” the White House memo stated.<\/p>\n

Biden tweeted Tuesday that he created more jobs in two years than previous administrations did in the entirety of their first terms \u2014 a point dismissed by critics as misleading due to lost jobs amid the coronavirus pandemic.<\/p>\n

BIDEN REPEATS MISLEADING JOBS CLAIM IN STATE OF THE UNION ADDRESS<\/strong><\/a><\/p>\n

Desmond Lachman, a senior fellow at the American Enterprise Institute, said the massive spending from the Biden<\/a> administration helped boost employment, but inevitably led to inflation.<\/p>\n

“They spend like drunken sailors \u2014 that is what\u2019s causing problems,” Lachman told Fox News Digital. “It\u2019s easy to get unemployment down for a short period of time, but it\u2019s difficult for a long period of time. The way they got it down so much is by overstimulating the economy, but now they have inflation.”<\/p>\n

Biden took office in January 2021 with an inflation rate of a little over 1%, which hiked to 9% by June 2022, and has since fallen to 4%. A Fox News poll from May found 83% of respondents said the nation has a negative economic condition. The poll found Biden\u2019s approval rating on the economy at 32%.<\/p>\n

BIDEN SLAMMED OVER ‘PREPOSTEROUS’ CLAIM HE CREATED MORE JOBS IN 2 YEARS THAN ANY PRESIDENT IN 4<\/strong><\/a><\/p>\n

Biden<\/a>\u2019s American Rescue Plan passed by Congress in 2021 as a pandemic emergency package may cost up to $3.5 trillion. His Inflation Reduction Act passed in 2022 cost an estimated $740 billion.<\/p>\n

Chris Edwards, an economic scholar at the Cato Institute, noted these two plans as an obvious cause of inflation. One more subtly harmful aspect of Biden\u2019s economic plan, he said, is the “corporate welfare” of federal government “handouts” to companies they deem beneficial, such as energy and computer chip manufacturers.<\/p>\n

“Vast corporate subsidies under Bidenomics will lead to increased political corruption as companies jockey for federal handouts,” Edwards told Fox News Digital. “Leading up to the 2024 election, there will likely be a wave of news reports on Biden\u2019s failed corporate subsidies, which will undermine the Bidenomics narrative, just like the crash of the subsidized and corrupt Solyndra was a stain on the Obama administration.”<\/p>\n<\/div>\n

Source – https:\/\/www.foxnews.com\/politics\/economists-mock-bidenomics-push-white-house-they-spend-like-drunken-sailors <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

President Biden is set to deliver a speech Wednesday in Chicago on “Bidenomics” \u2014 a term economist critics equated to excessive spending and inflation. “Bidenomics […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[16563],"tags":[],"stock_ticker":[],"class_list":["post-72004","post","type-post","status-publish","format-standard","hentry","category-market-news","entry"],"acf":[],"yoast_head":"\nEconomists mock 'Bidenomics' push from White House: 'they spend like drunken sailors' - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economists mock 'Bidenomics' push from White House: 'they spend like drunken sailors' - Wall Street PR\" \/>\n<meta property=\"og:description\" content=\"President Biden is set to deliver a speech Wednesday in Chicago on “Bidenomics” \u2014 a term economist critics equated to excessive spending and inflation. “Bidenomics […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004\" \/>\n<meta property=\"og:site_name\" content=\"Wall Street PR\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/WallStreetPR\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-28T16:53:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2021\/06\/businessman-showing-business-evolution1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"715\" \/>\n\t<meta property=\"og:image:height\" content=\"423\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004#article\",\"isPartOf\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/6e00efa2abc413bdc0bca51a90c54d36\"},\"headline\":\"Economists mock ‘Bidenomics’ push from White House: ‘they spend like drunken sailors’\",\"datePublished\":\"2023-06-28T16:53:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004\"},\"wordCount\":564,\"publisher\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#organization\"},\"articleSection\":[\"Market News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004\",\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004\",\"name\":\"Economists mock 'Bidenomics' push from White House: 'they spend like drunken sailors' - Wall Street PR\",\"isPartOf\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#website\"},\"datePublished\":\"2023-06-28T16:53:38+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cablemanpro.com\/wallstreetpr\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Economists mock ‘Bidenomics’ push from White House: ‘they spend like drunken sailors’\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#website\",\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/\",\"name\":\"Wall Street PR\",\"description\":\"Latest News From WallStreet\",\"publisher\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/cablemanpro.com\/wallstreetpr\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#organization\",\"name\":\"Wall Street PR\",\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2019\/10\/brand-logo.png\",\"contentUrl\":\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2019\/10\/brand-logo.png\",\"width\":537,\"height\":70,\"caption\":\"Wall Street PR\"},\"image\":{\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/WallStreetPR\/\",\"https:\/\/x.com\/WallstreetPRs\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/6e00efa2abc413bdc0bca51a90c54d36\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2022\/09\/360_F_336393115_5gCUfwn76x3MJaCJMYDKLoRebkC8QyrL-300x300.jpg\",\"contentUrl\":\"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2022\/09\/360_F_336393115_5gCUfwn76x3MJaCJMYDKLoRebkC8QyrL-300x300.jpg\",\"caption\":\"admin\"},\"url\":\"https:\/\/cablemanpro.com\/wallstreetpr\/author\/admin\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Economists mock 'Bidenomics' push from White House: 'they spend like drunken sailors' - Wall Street PR","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004","og_locale":"en_US","og_type":"article","og_title":"Economists mock 'Bidenomics' push from White House: 'they spend like drunken sailors' - Wall Street PR","og_description":"President Biden is set to deliver a speech Wednesday in Chicago on “Bidenomics” \u2014 a term economist critics equated to excessive spending and inflation. “Bidenomics […]","og_url":"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004","og_site_name":"Wall Street PR","article_publisher":"https:\/\/www.facebook.com\/WallStreetPR\/","article_published_time":"2023-06-28T16:53:38+00:00","og_image":[{"width":715,"height":423,"url":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2021\/06\/businessman-showing-business-evolution1.jpg","type":"image\/jpeg"}],"author":"admin","twitter_misc":{"Written by":"admin","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004#article","isPartOf":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004"},"author":{"name":"admin","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/6e00efa2abc413bdc0bca51a90c54d36"},"headline":"Economists mock ‘Bidenomics’ push from White House: ‘they spend like drunken sailors’","datePublished":"2023-06-28T16:53:38+00:00","mainEntityOfPage":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004"},"wordCount":564,"publisher":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#organization"},"articleSection":["Market News"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004","url":"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004","name":"Economists mock 'Bidenomics' push from White House: 'they spend like drunken sailors' - Wall Street PR","isPartOf":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#website"},"datePublished":"2023-06-28T16:53:38+00:00","breadcrumb":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/economists-mock-bidenomics-push-from-white-house-they-spend-like-drunken-sailors-72004#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cablemanpro.com\/wallstreetpr\/"},{"@type":"ListItem","position":2,"name":"Economists mock ‘Bidenomics’ push from White House: ‘they spend like drunken sailors’"}]},{"@type":"WebSite","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#website","url":"https:\/\/cablemanpro.com\/wallstreetpr\/","name":"Wall Street PR","description":"Latest News From WallStreet","publisher":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cablemanpro.com\/wallstreetpr\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#organization","name":"Wall Street PR","url":"https:\/\/cablemanpro.com\/wallstreetpr\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/logo\/image\/","url":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2019\/10\/brand-logo.png","contentUrl":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2019\/10\/brand-logo.png","width":537,"height":70,"caption":"Wall Street PR"},"image":{"@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/WallStreetPR\/","https:\/\/x.com\/WallstreetPRs"]},{"@type":"Person","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/6e00efa2abc413bdc0bca51a90c54d36","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cablemanpro.com\/wallstreetpr\/#\/schema\/person\/image\/","url":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2022\/09\/360_F_336393115_5gCUfwn76x3MJaCJMYDKLoRebkC8QyrL-300x300.jpg","contentUrl":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-content\/uploads\/2022\/09\/360_F_336393115_5gCUfwn76x3MJaCJMYDKLoRebkC8QyrL-300x300.jpg","caption":"admin"},"url":"https:\/\/cablemanpro.com\/wallstreetpr\/author\/admin"}]}},"_links":{"self":[{"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/posts\/72004","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/comments?post=72004"}],"version-history":[{"count":0,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/posts\/72004\/revisions"}],"wp:attachment":[{"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/media?parent=72004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/categories?post=72004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/tags?post=72004"},{"taxonomy":"stock_ticker","embeddable":true,"href":"https:\/\/cablemanpro.com\/wallstreetpr\/wp-json\/wp\/v2\/stock_ticker?post=72004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}